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A group representing U.K. pension funds is joining other investors in supporting a resolution to be voted on at BP's shareholder meeting later this month.

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SummaryNextEra Energy is reaffirmed as a Buy, with a $101 price target and a projected 10%+ total return, including dividends.NEE’s unmatched renewables and storage backlog, secured supply chains, and leadership in solar, wind, and battery storage underpin robust long-term growth.NEE targets 8%+ earnings CAGR through 2035, with a 10% dividend increase this year and 6% annual growth targeted for 2027–2028.Risks include potential regulatory headwinds and tax credit cuts, but NEE’s backlog insulation and AI data center demand provide significant upside catalysts.Even before the Iran war, I was critical of the Trump administration's policies to double down on fossil fuels while simultaneously rolling back practically all of the Biden administration's EV, solar, wind, and battery backup initiatives to more effectively compete with China. Nothing has exposed the flaws of the administration's energy strategy as has the war on Iran. It is the biggest disruption and destruction of oil and gas assets in world history, in my view, and has had a very negative impact on the United States and the world. Indeed, despite being the biggest petroleum producer in the world, the United States is not immune from the fallout: gasoline prices have jumped 15% since the war started (see chart below), while the March CPI inflation print surged 0.9% - likely pushing additional interest rate cuts further into the future.

As a result, China is arguably winning the underlying energy war, while the United States seems determined to fritter away the gift of domestic shale oil (more on that later). What is frustrating to many (including myself) is that America seems to know what the solutions are because NextEra Energy (NEE) has become the largest utility company in the United States by specializing in those solutions. And, despite the Trump administration's de-prioritization (if not outright hostility...) toward clean energy, NextEra will continue to be very successful by deploying these low-cost solutions for decades to come. Today, I'll explain why that is the case and will give a preview of NEE's Q1 earnings report, which is due out on April 23rd.

Investment Thesis An article in Fortune quotes Jacky Tang, emerging markets CIO at Deutsche Bank, as saying that the war on Iran has set off a global race for energy security that makes China stronger (see "Deutsche Bank Says

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of NEE, GOOG, XLU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am an electronics engineer, not a CFA. The information and data presented in this article were obtained from company documents and/or sources believed to be reliable, but have not been independently verified. Therefore, the author cannot guarantee their accuracy. Please do your own research and contact a qualified investment advisor. I am not responsible for the investment decisions you make.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

April 27, 2026 16:05 ET  | Source: Fossil Group, Inc.

RICHARDSON, Texas, April 27, 2026 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) announced today that it will report first quarter 2026 financial results after market close on Wednesday, May 13, 2026, followed by a conference call to discuss the results at 5:00 p.m. ET the same day. The call can be accessed live on the Company’s investor relations website at www.fossilgroup.com/investors and will also be archived for replay.

About Fossil Group, Inc.

Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, Emporio Armani, Michael Kors, Skechers and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories, and channels. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.

Investor Relations Contact:

Christine Greany
The Blueshirt Group
[email protected]

Fossil Group (FOSL - Free Report) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.22. This compares to a loss of $0.1 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +86.36%. A quarter ago, it was expected that this watch and accessories maker would post earnings of $0.02 per share when it actually produced a loss of $0.15, delivering a surprise of -850%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Fossil Group, which belongs to the Zacks Retail - Apparel and Shoes industry, posted revenues of $224.8 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 9.50%. This compares to year-ago revenues of $233.3 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Fossil Group shares have added about 5.1% since the beginning of the year versus the S&P 500's gain of 8.1%.

What's Next for Fossil Group?While Fossil Group has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Fossil Group was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.15 on $205 million in revenues for the coming quarter and -$0.33 on $953 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Apparel and Shoes is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Urban Outfitters (URBN - Free Report) , has yet to report results for the quarter ended April 2026.

This clothing and accessories retailer is expected to post quarterly earnings of $1.12 per share in its upcoming report, which represents a year-over-year change of -3.5%. The consensus EPS estimate for the quarter has been revised 0.2% higher over the last 30 days to the current level.

Urban Outfitters' revenues are expected to be $1.46 billion, up 9.5% from the year-ago quarter.

Fossil Group, Inc. (FOSL) Q1 2026 Earnings Call Transcript

Key Takeaways BP is increasing its solar, wind and bioenergy footprint through strategic partnerships.BP's Archaea Energy strengthens its position in the renewable natural gas market.BP is advancing hydrogen and carbon capture projects to support decarbonization goals. Air quality continues to deteriorate globally due to rising emissions from transportation, industrial activity and rapid urbanization, increasing risks to public health and the environment. In response to these challenges, governments and industries are prioritizing cleaner energy solutions by adopting low-emission fuels, stricter standards and sustainable technologies to support the global energy transition. BP plc (BP - Free Report) is positioning itself for this transition by combining its traditional fossil fuels operations with expanding renewable energy and low-carbon businesses.

BP has built a strong renewable portfolio, spanning solar, wind and bioenergy, by utilizing capital-light partnerships to reduce risk. The company continues to expand its solar and battery storage presence through partnerships such as Lightsource bp, while its JERA Nex bp joint venture strengthens its offshore wind platform. BP has also established a growing position in renewable natural gas through Archaea Energy, supporting cleaner fuel demand across transportation and energy-intensive industries.

Beyond its renewable portfolio, BP is focusing on difficult-to-decarbonize sectors to help significantly lower atmospheric emissions. The company is advancing this goal by developing low-carbon hydrogen production facilities and large-scale carbon capture and storage (CCS) projects. Through these strategic partnerships and targeted investments, BP continues to strengthen its long-term energy transition strategy while supporting global efforts to lower emissions and improve air quality.

CVX & XOM Focus on Reducing EmissionsOther leading integrated energy giants Chevron Corporation (CVX - Free Report) and Exxon Mobil Corporation (XOM - Free Report) are actively advancing initiatives to improve air quality.

Chevron is reducing emissions by investing in carbon capture, utilization and storage (CCUS) technologies to trap carbon dioxide underground. CVX is increasing its production of renewable fuels, including biodiesel, renewable natural gas and hydrogen, to help reduce emissions.

Like BP, ExxonMobil has established its own low carbon solutions business. Through this division, XOM is building large-scale CCS facilities along the U.S. Gulf Coast, a vital energy-producing corridor, to safely capture and isolate industrial emissions.

BP’s Price Performance, Valuation & EstimatesBP shares have gained 42.7% over the past year compared with the 44.5% growth of the industry.

Image Source: Zacks Investment Research

From a valuation standpoint, BP trades at a trailing 12-month enterprise-value-to-EBITDA (EV/EBITDA) of 3.11X. This is below the broader industry average of 6.42X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for BP's 2026 earnings has been unchanged over the past seven days.

Image Source: Zacks Investment Research

BP currently carries Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

There haven't been any official news releases by Rivian Automotive (RIVN +7.85%) this week, yet the stock has been soaring. That's because the company has been communicating directly with R2 reservation holders, helping to build buzz for its launch.

Rivian stock has risen 25% over the last month as investors anticipate the launch of its R2 electric SUV. That includes an 11% move higher this week, as of Friday morning, according to data provided by S&P Global Market Intelligence.

Image source: Rivian Automotive.

Rivian's future starts next week Rivian has had a relatively successful start-up as an electric vehicle (EV) company. While EV demand growth has slowed, several EV makers have throttled production plans or even exited the market. Rivian, however, has maintained its slow-and-steady path toward the launch of its next-generation R2.

After delivering over 40,000 EVs last year, the company expects the lower price and more advanced technologies to propel the R2 into the mass market. Management expects to sell closer to 65,000 units this year. The inflection point is next week, on June 9, when invitations for orders are sent to reservation holders, demo drives begin, and the initial R2s are delivered to customers.

Today's Change

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1.22

Current Price

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16.76

Investors wanting to get in ahead of the first sales data reports have been driving the stock higher. Rivian is still a speculative stock, as the company won't be profitable this year. Its valuation, based on 2026 revenue expectations, isn't excessive, however. A forward price-to-sales ratio of about 3 has some long-term investors willing to speculate on the R2's success.

Howard Smith has positions in Rivian Automotive. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Between tariffs, geopolitical conflict, and shifting views on psychedelic drugs and cannabis, investors have had no shortage of uncertainty to weigh. But one thing the Trump administration has been abundantly clear about, it is its distaste for carbon mitigation efforts, including renewable energy and electric vehicles (EVs).

Even though they were originally scheduled to run through 2032, the federal clean vehicle credits were terminated for vehicles acquired after Sept. 30, 2025. Without the tax incentive—which saved consumers $7,500 for new EVs and $4,000 for used EVs—sales have stalled.

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According to Cox Automotive, in the first quarter of 2026, EV sales were down 27% year over year (YOY). In the fourth quarter of 2025, they were down 36% YOY.

However, around the world, EV adoption rates continue to climb and the future of transportation remains electrified.

Globally, 25% of all new car sales were electric or hybrid last year, with Pew Research Center finding figures as high as 97% in Norway, 71% in Denmark, and 68% in Nepal. In the world’s largest economies, the United States is the laggard at 10%, while China and Germany boasted sales of 53% and 30%, respectively.

Just like the global EV market itself, three major companies operating in the space are each showing disparities that investors should keep on their radar: Rivian NASDAQ: RIVN, Lucid Group NASDAQ: LCID, and Tesla NASDAQ: TSLA.

Despite Clawing Back, Rivian Lacks the Charge to Rival Its All-Time HighRivian Automotive Today

RIVN

Rivian Automotive

$16.76 +1.22 (+7.85%)

As of 04:00 PM Eastern

52-Week Range$11.57▼

$22.69Price Target$18.57

Since its year-to-date (YTD) low on May 19, Irvine, California-based Rivian has seen its stock rally about 40%.

But shares of RIVN remain down about 12% YTD and have lost more than 86% since their post-IPO all-time high.

Much of that can be attributable to the company still not operating at a profit.

Last year, Rivian had a net loss of $3.6 billion. Scaling production has dramatically outpaced the company’s revenue growth, but that gap is closing.

A Q1 2026 loss of $416 million shows a dramatic 64% improvement from the company’s seven-quarter high loss of $1.17 billion in Q3 FY2025. The first quarter, however, was helped by a $506 million gain in other income.

The company is still grappling with declining sales in the wake of the discontinuation of EV credits, as well as elevated fixed costs associated with building factories for forthcoming mass-market models. But the biggest hindrance to Rivian’s success remains its global footprint—or lack thereof.

Outside of its limited electric delivery van deliveries, which are used by Amazon NASDAQ: AMZN in select European cities, the company currently only sells models in the United States (excluding Alaska) and Canada. Rivian owners who import vehicles into markets outside the company’s current service footprint through grey-market channels may be responsible for shipping them back to North America for warranty repairs or service at their own expense.

The company’s mixed earnings haven’t exactly helped investor sentiment, either. Rivian has missed analyst expectations in three of the last seven quarters, despite revenue beating forecast in all but one of those quarters. Combined with an annual cash burn rate projected to reach as high as $5 billion this year, Wall Street’s outlook is tempered.

The stock receives a consensus Hold rating alongside an average 12-month price target that suggests about 7% upside from current prices.

Rivian Automotive, Inc. (RIVN) Price Chart for Friday, June, 12, 2026

Lucid’s Price Point Keeps Budget-Conscious From CommittingLucid Group Today

$5.20 +0.03 (+0.58%)

As of 04:00 PM Eastern

52-Week Range$4.47▼

$33.70Price Target$9.67

Another California-based carmaker, Lucid, shares some of the same problems as Rivian.

Unlike Rivian, however, the luxury EV manufacturer does have a notable footprint outside the United States, including markets in Canada, Europe, and the Middle East, with plans to expand in the United Kingdom and into Australia.

But with MSRPs ranging from around $70,000 to more than $250,000, sales have suffered as cost-conscious consumers turn to more affordable electric options, with Lucid struggling to expand its market share.

While deliveries continue to grow those numbers pale in comparison to more dominant EV brands. Lucid delivered 3,093 vehicles in Q1 2026, with Interim CEO Marc Winterhoff noting that the company had "the highest March deliveries in Lucid history, up 14% year-over-year." For comparison, Tesla delivered 1.63 million vehicles globally in 2025.

Lucid is also unprofitable. Last year, the company reported a net loss of $3.68 billion—its highest 2021—with a Q1 loss of $1.13 billion showing its burn rate is on pace with last year’s. In the 18 quarters since its July 2021 IPO, the company has missed analyst earnings expectations in all but three quarters.

With shares are down nearly 50% YTD and almost 75% over the past year, it’s hardly surprising that the stock receives a consensus Reduce rating. However, the consensus price target does suggest more than 80% potential upside.

Lucid Group, Inc. (LCID) Price Chart for Friday, June, 12, 2026

Tesla Is Quietly Making a Run at Its All-Time HighTesla Today

$406.43 +7.28 (+1.82%)

As of 04:00 PM Eastern

52-Week Range$288.77▼

$498.83P/E Ratio372.87

Price Target$404.37

In the well-documented lead-up to SpaceX’s IPO, Elon Musk-led Tesla’s more than 20% gain from its YTD low in early April has been somewhat overshadowed.

The Magnificent Seven member now finds itself down less than 13% from its all-time high in December 2025, as sales in Europe have rebounded.

Despite having officially lost its title as the world’s largest battery-electric vehicle seller to its Chinese counterpart BYD Limited OTCMKTS: BYDDF, 2025 marked the sixth consecutive year of profitability for Tesla.

That trend has carried into this year, with Q1 net income of $477 million up nearly 17% YOY. Driving that was YOY revenue growth of nearly 16%, while EPS increased more than 8%.

Challenges remain for the $1.57 trillion market cap company. As Chinese competition continues to test Tesla’s global market share, margin contraction is creating pricing pressure. But, as is often the case, Musk proponents—and Tesla shareholders—focus on longer-term objectives, including the Robotaxi rollout and continued growth in Full Self-Driving subscriptions, which reached nearly 1.3 million in Q1.

Wall Street is proceeding with caution, though. The stock receives a consensus Hold rating, and its average 12-month price target is more than 5% lower than where shares are trading today.

Tesla, Inc. (TSLA) Price Chart for Friday, June, 12, 2026

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The world of automaker stocks offers investors choices between long-established names and fast-growing upstarts. Investors looking for exposure to the changing automotive landscape must decide between legacy reliability and high-growth potential when choosing between Ford Motor (F +0.88%) and Rivian Automotive (RIVN +7.85%) for their portfolios.

Ford Motor operates as a global powerhouse with a massive internal combustion engine business while it pivots toward electrification and software services. Rivian Automotive is a pure-play electric vehicle manufacturer focused on premium consumer trucks and commercial delivery vans. They represent two different paths within the same evolving market for transportation and energy.

The case for Ford MotorFord Motor builds a wide range of vehicles, from iconic F-150 trucks to Lincoln luxury cars, targeting both retail consumers and commercial fleets. The company maintains a leading position among consumer discretionary stocks due to its massive scale and historical brand recognition. Its business strategy focuses on three distinct pillars: traditional gasoline vehicles, commercial solutions, and a rapidly expanding electric vehicle segment.

In FY 2025, revenue reached nearly $187.3 billion, representing modest 1.2% growth from the previous year. Despite the high top-line figure, the company reported a net loss of approximately $8.2 billion for the period. This resulted in a negative net margin of roughly 4.4%, which is a metric that measures how much of each dollar earned becomes actual profit after all expenses.

As of its December 2025 balance sheet, the debt-to-equity ratio is approximately 4.7x, meaning total debt is more than four times larger than shareholder equity. The current ratio, which measures the ability to cover short-term liabilities with assets that can be converted to cash quickly, stands at nearly 1.1x. For the full year, the company generated close to $12.5 billion in free cash flow, the cash remaining after operating costs and capital investments.

The case for Rivian AutomotiveRivian Automotive produces high-end electric trucks and SUVs designed for outdoor adventure alongside its commercial electric delivery vans. A significant portion of its commercial business depends on Amazon.com, Inc. (AMZN 1.24%), which holds approximately 12.7% of the company's voting power as of December 2025. This customer concentration means the loss of business from its primary partner could have a material adverse effect on its long-term financial stability.

During FY 2025, revenue reached nearly $5.4 billion, reflecting growth of roughly 8.4% as the company scaled its manufacturing operations. However, the business recorded a net loss of approximately $3.6 billion, resulting in a negative net margin of roughly 67.7%. While still in the red, this was an improvement over the negative 95.5% net margin reported in the previous fiscal year.

According to its December 2025 balance sheet, the company has a debt-to-equity ratio of approximately 1.5x, calculated by dividing total debt by shareholders’ equity. Its current ratio is roughly 2.3x, suggesting a comfortable cushion for meeting short-term financial obligations with liquid assets. Free cash flow for the year was negative $2.5 billion, as the company continues to invest heavily in its production facilities and new vehicle platforms.

Risk profile comparisonFord Motor faces significant pressure from the high cost of raw materials and battery components needed to achieve its electrification goals. The company remains under intense scrutiny from regulators like the NHTSA, which has imposed civil penalties and oversight related to safety recalls. Furthermore,  competition from Chinese manufacturers and established rivals in the global market creates a risk that its market share could erode in key regions.

Rivian Automotive relies heavily on its relationship with Amazon for a large percentage of its revenue, yet the partner has no minimum purchase requirements. The company also faces challenges in scaling manufacturing at its Illinois factory, where production levels have historically remained below full capacity. Additionally, its reliance on a joint venture with Volkswagen for software development means any failure to integrate these complex systems could delay vehicle launches.

Valuation comparisonFord Motor offers a significantly lower entry point based on future earnings estimates and sales compared to its younger electric rival.

MetricFord MotorRivian AutomotiveSector BenchmarkForward P/E9.0x39.8x29.5xP/S ratio0.3x3.8xn/aSector benchmark uses the SPDR XLY sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Which stock would I buy in 2026?It’s harder to see two more different automaker stocks to choose from, but both have some positive similarities. For one, each has sizable annual sales. That’s notable given how many EV automakers came to the stock market with no sales or minimal revenue since 2020. Each are U.S. based businesses which helps with taxes and market positioning in the U.S., the second-largest car market in the world, after China. Both Ford and Rivian also continue to post excellent scores on consumer perception of their respective brands and for quality.

Ford does have some advantages over Rivian. For one, Ford has long established itself in mainland China, the world’s largest automotive market. Ford’s China sales, including exports, topped $900 million in 2025. Ford is also a well-established name in Europe, another of the world’s major car markets. The business also has massive scale, with revenue more than 35 times that of Rivian. That gives Ford the cash flow to make major moves in the marketplace if it wants, such as buying minority positions in foreign automakers, something it has done to good effect in the past.

Yet investors seeking long-term profits in the automotive sector may be better served by investing in Rivian. Despite policy efforts to promote combustion engines in the U.S., EVs continue to grow as a share of the market. EVs accounted for ~8% of all auto sales domestically last year, nearly double from four years prior. Outside the U.S., EVs are expected to account for one of every four autos sold worldwide this year. Rivian doesn’t yet sell outside the U.S. and Canada, but it’s fertile ground for expansion.

Ford, meanwhile, has to balance maintaining its existing combustion engine business with funding the expansion of its toehold in EVs. It’s not always easy, as seen in the company’s recent decision to mothball its electric F-150 model.

While Rivian is still unprofitable, its cash burn has slowed significantly in recent years, and the business has more cash on its balance sheet than debt. Its distinctive truck offerings and sterling brand positioning as the other American EV maker, an alternative to the controversial Elon Musk-led Tesla Inc (TSLA +1.65%), give it a clear brand identity in consumers’ minds.

Rivian’s price-to-sales multiple of 3.8 is a pricey premium for an upstart car brand, but the market’s discount pricing of Ford, with its P/S of well less than 1x, is a red flag on how Wall Street views the company’s long-term growth prospects.

PARK CITY, Utah — Rivian CEO RJ Scaringe is energetic as he makes his way through displays for the electric vehicle maker's new R2 SUV.

The company founder moves quickly from the EV's suspension and software systems to different models of the R2 that will soon begin to reach American consumers, including a roughly $45,000 entry-level model that Rivian said Tuesday is being pulled ahead from late 2027 to next summer.

But there's an anxiousness in Scaringe's voice as he talks to employees and media at the R2 launch event in western Utah and prepares to release the vehicle, starting Tuesday for current reservation holders, to the world.

Scaringe founded the EV maker in 2009. He has grown Rivian into a company with a $22 billion market cap that ranked highest in Consumer Reports' most recent customer satisfaction survey, but lowest in predictive industry reliability due to consumer-reported problems with its early vehicles.

That's unusual for an automotive brand. Typically, the more problems a brand has, the lower its customer satisfactions rank — but not Rivian.

It's a testament to the brand Scaringe, a 43-year-old automotive enthusiast and tech entrepreneur, has built. That kind of customer satisfaction is also harder to maintain as a brand grows, which is Rivian's goal with the R2.

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The new SUV is meant to transform Rivian from a niche EV manufacturer that sells luxury vehicles — largely in California and states where electric vehicles sell well — to a more mainstream brand that can not only compete against U.S. EV leader Tesla but with broader mainstream automotive brands such as Jeep and Subaru.

"Its goal is for it to be a high-volume product," Scaringe told CNBC. "Certainly, we're going to draw on some Tesla customers, but the market of non-Tesla customers is many, many times larger."

Wall Street analysts have described the R2 as Rivian's make-or-break moment, comparable to Tesla moving from its pricey, first-generation EVs to the mainstream Model 3 and Model Y that currently dominate the U.S. market.

Scaringe doesn't object to such a categorization.

"When you build a company from scratch, everything is make or break. There is no company if things don't work," he said. "Saying that it's 'make or break,' it's like, of course, it is."

Shares of Rivian were down by about 5% during intraday trading Tuesday following the new timing announcement for the entry-level model as well as expert reviews being released for the R2, which were largely positive.

Rivian R2 will be cash-flow positiveRivian is also hoping to achieve its main goal with the R2: profitability. The EV maker lost $3.6 billion last year, while only delivering 42,247 vehicles.

After promising investors it would be profitable on an adjusted basis by 2027, Rivian earlier this year withdrew that target without disclosing a new time frame to achieve the milestone. That comes as its automotive segment lost about $6,000 per vehicle it delivered during the first quarter of this year.

Scaringe reconfirmed to CNBC that Rivian now expects to accomplish the target once a multibillion-dollar plant in Georgia ramps up. It's slated to begin production in late 2028 and could reach its full capacity by the end of this decade.

Scaringe said Rivian will reach profitability on a per-unit production basis with the R2 this year. But he said the company needs more scale than the 160,000 units already planned for the vehicle at its current plant in Normal, Illinois, to achieve profitability.

"Georgia brings the volume to generate the gross margin for the vehicle sales that covers everything," Scaringe said. "The good news is we start to really reduce our burn rate. That's the beauty of volume, and these vehicles all being cash flow positive at a vehicle level."

Once the Georgia plant is fully operational, the company's production is expected to include the R1T pickup, R1 and R2 SUVs, R3 crossover, robotaxis and delivery vans. The company also has said it plans to offer additional vehicles based on the R2 platform.

Despite the R2 looking similar to its nearly $80,000 R1S SUV, Rivian said it has cut the vehicle's build material costs in half, reduced production complexity and achieved other major efficiency gains.

Scaringe said every R2 model — with starting prices ranging from roughly $45,000 to $58,000 — will be cash-flow positive for the company: "This is a requirement. Every single vehicle is gross margin positive," he said.

That positive cash flow includes its $45,000 entry-level model that the company moved up after facing online backlash for the timing.

Scaringe during a media roundtable said the change was made to address potential perception concerns about the R2 being a more expensive vehicle as well as a "desire to get it out there."

"As much as the base trim gets a lot of attention, very few people actually end up buying it," Scaringe said. "It doesn't affect the economics of the business that much, but it generates so much noise."

Tesla Model Y leads salesOnce full production of R2 is online, Scaringe said, the company expects the sweet spot for sales to be in the low $50,000s, which Cox Automotive reports would put it slightly above the U.S. average selling price of $49,000 and below the average EV selling price of more than $55,000.

That pricing and the vehicle's size place it in the heart of the compact and mid-size SUV markets, which Cox Automotive reports accounted for 45% of U.S. sales last year.

For EVs especially, the Tesla Model Y dominates in the U.S. Cox Automotive estimates Tesla, which does not report sales by region, sold more than 357,500 Model Y units, or roughly 40% of the U.S. EV market, in 2025.

"I think it'll do well. Rivian has a strong brand and there's room for another compelling vehicle, especially in that midsize segment," said Stephanie Valdez Streaty, director of industry insights at Cox Automotive, which is an investor in Rivian. "It's not just EV, they're going to try to compete and pull from [internal combustion engine] vehicles as well."

Rivian stock in 2026

Challenges for Rivian remain abundant, Valdez said. In addition to slower-than-expected EV adoption and lack of charging infrastructure, the company also needs to prove it can ramp up production quickly without quality issues.

Of the non-EVs in the segments, the Toyota Rav4 and Honda CR-V lead the compact SUV segment, while the larger Ford Explorer and Jeep Grand Cherokee lead midsize SUVs.

"We want people to look and just say ... 'it's the best car in that price range,' and by virtue of that, it'll draw new customers, non-EV customers," Scaringe said.

To do so, Scaringe believes, Rivian will also need to become a leader in software and in-vehicle technologies such as automated driving and artificial intelligence.

Rivian received outside validation for its emerging technology efforts in the form of a $5.8 billion deal with Volkswagen that includes putting Rivian's software and electrical architecture in the German automaker's future EVs.

Volkswagen is now Rivian's largest shareholder, followed by longtime backer Amazon, which remains its largest customer for delivery vehicles.

The R2 will launch with an advanced driver-assistance system, or ADAS, that will largely control itself under certain conditions with driver monitoring, but it will not have an AI voice assistant until later this year. Both systems will continue to be updated through over-the-air updates, according to Rivian.

Scaringe said he views the company's emerging software services as being just as important as the vehicles.

"You need them both. It's like asking is the heart or the brain more important in a human. You can't survive without both," Scaringe said. "It's a false binary. I don't see them as separate."

Read more CNBC auto newsMercedes-Benz may be shut out of U.S. market under bill aimed at Chinese automaker ownershipAfter Ferrari Luce backlash, Lamborghini CEO says canceling its own EV was the right choiceUAW union strike threatens General Motors truck production

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EVs

The Model 3 Era at Rivian Begins. Its Lower-Price EV Is Here.

Rivian R2 SUVs go through the final assembly and inspection process at the manufacturer's assembly plant on May 19, 2026, in Normal, Illinois. (Scott Olson/Getty Images)

Customer deliveries for the R2 SUV begin Tuesday Summary

Rivian launched the R2 SUV targeting Tesla and mainstream brands.

Rivian RIVN began customer deliveries of its R2 SUV on Tuesday, as the company attempts to move from a niche luxury EV maker into a higher-volume mainstream segment competing with Tesla TSLA and broader brands like Jeep and Subaru. The company also pulled forward its entry-level $45,000 model from late 2027 to next summer, after facing online backlash over the original timing. Shares fell 4.87% intraday.

The R2 will be priced from roughly $45,000 to $58,000, with CEO RJ Scaringe saying the sweet spot for sales will be in the low $50,000s, placing it below the average EV selling price of more than $55,000 and above the U.S. average of $49,000. Scaringe said every R2 model will be cash-flow positive at a vehicle level, calling it "a requirement."

Profitability at scale remains contingent on the company's Georgia plant, slated to begin production in late 2028. Rivian lost $3.6 billion last year delivering 42,247 vehicles and withdrew its 2027 adjusted profitability target earlier this year without providing a new timeline. Scaringe reconfirmed that the Georgia ramp is when gross margin profitability becomes achievable.

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Rivian (NASDAQ:RIVN | RIVN Price Prediction) and Lucid (NASDAQ:LCID) just gave us two very different EV stories. Rivian’s Q1 FY26 showed a real business taking shape, with software pulling weight while the R2 launch begins. Lucid’s Q4 FY25 revealed an unfinished luxury bet still burning cash faster than it can sell cars.

Software Saves Rivian. Luxury Still Costs Lucid Rivian delivered 10,365 vehicles last quarter, a 20% YoY gain, and posted $1.381 billion in revenue. The story underneath matters more. Automotive revenue slipped 2% YoY to $908 million as regulatory credits fell by $100 million, yet Software and Services grew 49% to $473 million, fueled by the Volkswagen joint venture. That is a real second engine.

Lucid sold 5,345 vehicles and grew revenue 122.39% YoY to $522.73 million, but cost of revenue hit $944.64 million. Building a Lucid Air or Gravity still costs nearly twice what it earns. The EPS loss of -$3.08 missed estimates by 42.81%, and free cash flow was -$1.24 billion in a single quarter. Shareholders’ equity collapsed from $3.87 billion to $717 million over the year.

Mass Market Truck Maker vs. Luxury Holdout CEO RJ Scaringe framed the moment plainly: “With the launch of R2, we are excited to dramatically expand our market opportunity and have more people driving Rivians.” The R2 starts near $45,000 with a bill of materials around 50% of R1, and Uber committed up to $1.25 billion for as many as 50,000 robotaxi R2s. A $4.5 billion DOE loan backs the Georgia plant.

Lucid’s interim CEO Marc Winterhoff took a humbler tone: “2025 was all about execution and strategy adjustment to set Lucid up for long-term success.” The Midsize platform begins production this year, the NVIDIA and Uber/Nuro robotaxi deal targets 20,000 Gravity units, and Saudi PIF expanded its facility to roughly $2 billion. Useful lifelines, but the unit economics need to change.

Business Driver Rivian Lucid Growth Engine Software, VW JV Gravity SUV ramp Gross Profit $119M positive Deeply negative Tone From the Top Expansion Discipline What I’m Watching Through 2026 Rivian guided to 62,000 to 67,000 deliveries with adjusted EBITDA between -$2.10 billion and -$1.80 billion. I want to see R2 conversion from R1 shoppers and whether the VW software stream keeps compounding.

Lucid targets 25,000 to 27,000 vehicles, and I am watching unit cost per Gravity above all else. Reddit sentiment captured the divergence neatly, with RIVN flipping from very bearish to bullish 76 to 78.

Why I Lean Toward Rivian Today If you want a credible path to scale, Rivian fits me better right now. Positive consolidated gross profit, $4.83 billion in cash, and a mass-market product entering showrooms beats a story still searching for unit economics.

Lucid could reward a patient turnaround investor if Midsize lands and robotaxis deploy on time, but with shares down 75.99% over a year and a Polymarket bankruptcy odds line still at 4%, the margin for error is thin. I would change my view on Lucid the moment cost of revenue dips below revenue. Until then, Rivian’s quarter reads like a company. Lucid’s reads like a project.

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One of the big catalysts for Rivian (RIVN +7.85%) this year was the launch of its smaller R2 electric SUV. However, with the company beginning deliveries, the stock has pulled back after a nice spring rally.

The first version of the R2 will come with its Performance with Launch Package and be priced starting at $57,990. It will be followed later this year with the R2 Premium trim, priced at $53,900, and the R2 Standard Long Range trim, starting at $48,490, in early 2027. Finally, its much-anticipated base version will arrive in the summer of 2027, starting at $44,990.

Thus far, the R2 has gotten some pretty rave reviews from automobile publications. Ars Technica said the R2 "changes the electric vehicle (EV) game" and that it's superior to the Tesla Model Y. Electrek added that the vehicle offered everything people need to upgrade from the Model Y. Inside EV author Mack Hogan, meanwhile, said that "the R2 is the do-everything machine I've always dreamed of."

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The R2 is not just simply another new model for Rivian. It is the company's venture into the much broader mid-luxury market, which offers a much larger revenue opportunity. By being able to sell a lot more vehicles, it also spreads its fixed costs over a significantly larger number of units, which will help it vastly improve its gross margins.

While it will take time, a successful launch of the R2 is an important step in the company ultimately becoming profitable and generating free cash flow. Rivian has already done a great job of lowering production costs through better sourcing, manufacturing efficiencies, and, most importantly, developing a zonal architecture that greatly reduces the number of expensive electronic control units (ECUs) and wiring that go into its SUVs.

Image source: The Motley Fool.

At the same time, the company is aggressively pursuing autonomous-driving software, which brings high gross margins with it. The company has been making nice progress in this area through a joint venture with Volkswagen, and it plans to offer point-to-point driving capabilities by the end of 2026. Its software is also scheduled to be included in Uber Technologies' robotaxi pilots with safety drivers in Miami and San Francisco later this year, and it is looking to reach full autonomy by 2028.

While Rivian is still a speculative play, the company continues to move in the right direction and is backed by some market heavyweights, including Volkswagen and Amazon. That makes it worth adding a small position on this recent dip.

Geoffrey Seiler has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Tesla, and Uber Technologies. The Motley Fool has a disclosure policy.

Rivian Automotive stock is among today’s top performers. Why is RIVN stock surging? What Is Driving Rivian’s R2 Launch Narrative?Rivian CEO RJ Scaringe is pushing back on the idea that Americans are "anti-EV," arguing instead that the U.S. market has "very few great choices," with Tesla Inc’s Model 3 and Model Y making up about 50% of U.S. EV sales. Rivian began customer deliveries of the highly anticipated R2 SUV on Tuesday, with the Performance model starting at $57,990 versus a comparable Model Y starting at $58,880.

With the R2 lineup, Rivian also expects Premium and standard versions later in 2026 and 2027, starting at $53,990 and $48,490, respectively. Management is guiding for 62,000 to 67,000 vehicle deliveries in 2026 and is targeting 300,000 units of annual production by 2028.

Rivian Stock: Key Technical Levels To WatchRivian is trading at $16.53, which puts it firmly back above its major moving averages—about 7.7% above the 20-day SMA ($15.36) and about 5.9% above the 200-day SMA ($15.62)—a constructive longer-term positioning signal if it can hold. That said, the trend backdrop still carries some baggage: the 20-day SMA remains below the 50-day SMA, and the death cross (50-day below 200-day) that formed in May is still in place.

Momentum is best framed through RSI, which sits at 49.70—basically neutral—suggesting the stock isn't stretched and is still more "range and rebuild" than "breakout and chase." Historically, RSI hit oversold in January and overbought in June, so a push back toward the June swing high would likely require RSI to re-accelerate rather than just drift.

From a levels standpoint, traders will likely treat nearby round numbers as the next decision points:

Key Resistance: $18.00 — a nearby round-number area where rebounds can stall Key Support: $14.50 — a nearby level where buyers previously stepped in What Is Rivian Automotive’s Business Model?Rivian is a battery electric vehicle automaker that sells its vehicles in the US and Canada, and it's trying to scale from a premium niche into a broader mass-market footprint. It also develops electronic control units and related software for autos in a joint venture with Volkswagen, giving it another lever beyond just vehicle sales.

The company's fleet includes a luxury truck and full-size SUV and a delivery van, and it plans to begin selling a midsize SUV in 2026, making the R2 ramp central to the "volume story" investors are trading. Rivian delivered over 42,000 vehicles in 2025 and is also building autonomous driving software intended for its own vehicles and for robotaxis on the Uber ride-hailing network.

Rivian Stock Price Action: Friday UpdateRIVN Stock Price Activity: Rivian Automotive shares were up 6.37% at $16.53 at the time of publication on Friday, according to Benzinga Pro data.

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Full-Year 2025 revenue of $102.4 million, a 77.3% increase over the prior-year period 

Company Continues to Drive Meaningful Cost Reductions

Company Issues Full Year 2026 Financial Guidance

Strategic Alternatives Review Advancing with Clear Path Forward Expected in Q2

WALTHAM, Mass., March 31, 2026 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension”, “Nano”, or the “Company”), a leader in digital manufacturing solutions, today announced financial results for the fourth quarter and full year ended December 31, 2025.

The consolidated results incorporate the financial position and performance of Markforged Holding Corporation (“Markforged”) from the acquisition date of April 25, 2025. Desktop Metal, Inc. (“Desktop Metal”) was acquired by the Company on April 2, 2025. The results of Desktop Metal from April 2, 2025 through July 28, 2025 as well as impairment charges related to the Desktop Metal assets and the costs associated with the bankruptcy and deconsolidation are included in Discontinued Operations on the Consolidated Statement of Operations.

Fourth Quarter 2025 Results:

Revenue: $35.3 million, a 142.4% increase from $14.6 million year-over-yearGross Margin (“GM”): 37.7%, up from 32.9% year-over-yearAdjusted Gross Margin (“Adjusted GM”): 49.7%, up from 36.3% year-over-yearAdjusted EBITDA loss: $9.8 million, down from a loss of $18.9 million year-over-yearNet Loss from Continuing Operations: $33.9 million, up from a loss of $9.3 million year-over-yearTotal cash, cash equivalents, deposits and marketable equity securities: $459.6 million as of December 31, 2025, down from $515.5 million as of September 30, 2025. This change of approximately $55.9 million includes $19.8 million of cash used for share repurchases during the quarter and $24.4 million related to changes in the fair value of marketable equity securities.
Full Year 2025 Results:

Revenue: $102.4 million, a 77.3% increase from $57.8 million year-over-yearGM: 33.5%, down from 43.1% year-over-yearAdjusted GM: 46.9%, up from 45.4% year-over-yearAdjusted EBITDA loss: $53.2 million, down from a loss of $63.6 million year-over-yearNet Loss from Continuing Operations: $100.4 million, up from a loss of $99.9 million year-over-year
More information, including a reconciliation of Adjusted EBITDA and Adjusted Gross Margin to the most directly comparable GAAP financial measure can be found below in this press release under “Non-GAAP Financial Measures” and “Reconciliation of US GAAP to Non-GAAP Measures.”

David Stehlin, Chief Executive Officer, commented, “We delivered a strong finish to 2025, exceeding our fourth-quarter top and bottom line financial guidance. As we move through 2026, we are building on this momentum by continuing to drive operational discipline, reduce our cost structure and lower cash burn across the business. Our focus remains on executing these actions to create value for our shareholders.”

Recent Developments

Operating Discipline and Cost Savings: During 2025, the Company made meaningful progress driving cost savings by streamlining operations and focusing resources on priority industry segments and products. Non-GAAP operating expenses* declined sequentially in the fourth quarter to $27.3 million, representing a reduction of more than 16% relative to the previously identified baseline of approximately $32.5 million, which reflects second quarter 2025 operating expenses adjusted to include a full quarter of Markforged. This reduction highlights the substantial execution of the Company’s previously announced cost reduction initiatives, with the full benefits expected to be realized in early 2026. The Company continues to evaluate additional opportunities to enhance operational performance and believes these initiatives position it to drive improved operating leverage over time.Re-domestication and U.S. Reporting Transition: Effective January 1, 2026, Nano Dimension began reporting as a U.S. domestic issuer. The Company filed its Form 10-K today and anticipates completing the re-domestication process in the first half of 2026, subject to customary approvals. This transition aligns the Company’s reporting and governance framework with U.S. market standards while enhancing transparency for shareholders.Share Repurchases and Capital Allocation: During 2025, the Company remained disciplined in capital allocation while preserving balance sheet strength and strategic flexibility. In the fourth quarter, the Company repurchased approximately 10.9 million shares for approximately $19.2 million under its existing $150 million authorization. Given the ongoing strategic alternatives review process, the Board is carefully evaluating capital deployment priorities and will not be providing forward-looking updates regarding repurchase activity at this time.Strategic Alternatives Review: The Board, with the support of Guggenheim Securities, LLC and Houlihan Lokey, has conducted a thorough and disciplined review of strategic alternatives, evaluating product lines, core technologies, market dynamics and competitive positioning. The Company has made meaningful progress, including reducing losses and improving its product portfolio, while recognizing that a gap remains to achieving sustained profitability. Nano Dimension expects to announce a series of actions in the second quarter of 2026 to clearly define its path forward to maximizing shareholder value. * More information, including a reconciliation of non-GAAP operating expenses to the most directly comparable GAAP financial measure can be found below in this press release under “Non-GAAP Financial Measures” and “Reconciliation of US GAAP to Non-GAAP Measures.”

2026 Financial Guidance

Following improved visibility exiting 2025 and continued integration of Markforged, the Company is implementing annual financial guidance beginning in 2026 to better reflect the mix of recurring revenue and larger strategic orders that can create quarterly variability.

For the full year 2026, the Company anticipates revenue in the range of $130 million to $140 million, non-GAAP gross margin of 46% to 48%, non-GAAP operating expenses of $106 million to $111 million and Adjusted EBITDA loss in the range of $40 million to $50 million.

Non-GAAP gross margin, non-GAAP operating expenses and Adjusted EBITDA represent non-GAAP financial measures. Additional information can be found below in this press release under “Non-GAAP Financial Measures.”

Conference Call Today

Nano Dimension will host a conference call today at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2025.

Participants can pre-register for the conference call in order to receive dial in information via this link: https://dpregister.com/sreg/10206850/10359dca11a

Participants can also dial-in/connect by following the below:

Listen in via U.S. dial-in: 1-844-695-5517
Listen via international dial-in: 1-412-902-6751
Listen via Israel toll free: 1-80-9212373
Listen via webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=1YPvoqSL

For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at https://investors.nano-di.com/events-and-presentations.

About Nano Dimension Ltd.

Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension Ltd. (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices. For more information, please visit https://www.nano-di.com/.

Non-GAAP Financial Measures

EBITDA is a non-GAAP measure and is defined as earnings before interest income and expense, income tax (benefit) expense, depreciation and amortization. We believe that EBITDA should be useful in evaluating the performance of our business and operations. EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting interest expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively) and EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to the items mentioned above.

Adjusted EBITDA and operating expenses are non-GAAP measures and are defined as earnings before interest income and expense, income tax (benefit) expense, depreciation and amortization, share-based compensation expense, exchange rate differences, finance expenses (income) for revaluation of assets and liabilities, Desktop Metal litigation related expenses, Desktop Metal and Markforged transaction related expenses, restructuring costs, impact of deconsolidation, impairment losses, litigation settlements and step-up amortization from purchase accounting. We believe that Adjusted EBITDA and operating expenses, as described above, should also be useful in evaluating the performance of our business. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting other financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payments, restructuring costs, impairment losses, and step-up amortization from purchase accounting. Adjusted EBITDA and operating expenses are useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to non-cash items, such as expenses related to share-based payments.

Adjusted gross profit, excluding depreciation and amortization, share-based compensation expenses, and step-up amortization from purchase accounting, is a non-GAAP measure. We believe that adjusted gross profit, as described above, should also be useful in evaluating the performance of our business. Adjusted gross profit facilitates gross profit and gross margin comparisons from period to period and company to company by backing out potential differences caused by variations in amortization of inventory and intangible assets. Adjusted gross profit is useful to an investor in evaluating our performance because it enables investors, securities analysts and other interested parties to measure a company’s performance without regard to non-cash items, such as amortization expenses. Adjusted gross margin is calculated by dividing the adjusted gross profit by the revenues.

EBITDA and Adjusted EBITDA, Adjusted gross profit and non-GAAP operating expenses can be useful in evaluating our performance by eliminating the effect of financing and non-cash expenses such as share-based payments, however, we may incur such expenses in the future, which could impact future results. In addition, other companies, including companies in our industry, may calculate non-GAAP metrics differently or not at all, which may reduce the usefulness of this measure as a tool for comparison.

Nano Dimension does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures due to the inherent difficulty in forecasting and quantifying certain significant items. These items are uncertain, depend on various factors and could have a material impact on GAAP reported results for the relevant period.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding Nano’s future growth, strategic plan and value to shareholders, and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Forward-looking statements may be characterized by terminology such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano’s annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this communication.

Contacts:

Investors: Purva Sanariya
Director, Investor Relations
[email protected]

Media: Samuel Manning
Principal Manager, External Communications
[email protected]

    NANO DIMENSION LTD.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data) (audited)
      December 31,   2025  2024 Assets      Current assets:      Cash and cash equivalents $204,672  $317,169 Bank deposits  168,997   440,790 Marketable equity securities  84,154   — Restricted bank deposits  123   537 Trade receivables, net of allowance for doubtful accounts ($861 and $811, respectively)  26,047   9,141 Inventory  32,878   16,899 Other current assets  8,938   4,790 Total current assets  525,809   789,326 Restricted bank deposits  1,610   768 Marketable equity securities  —   86,190 Property, plant and equipment, net  24,840   14,143 Operating lease right-of-use assets  23,789   9,958 Deferred tax assets  424   — Goodwill  40,388   — Intangible assets, net  19,434   2,155 Other assets  1,930   — Total assets $638,224  $902,540 Liabilities and Equity      Current liabilities:      Trade payables $11,999  $4,249 Accrued liabilities  19,514   18,771 Deferred revenue  11,873   3,523 Current portion of lease liability  8,923   3,421 Current portion of bank loan  158   138 Total current liabilities  52,467   30,102 Employee benefits  3,697   4,700 Operating lease right-of-use liabilities  23,323   6,707 Bank loan  158   276 Long-term settlement payable  2,974   — Long-term deferred revenue  3,617   — Total liabilities  86,236   41,785 Commitments and contingencies      Non-controlling interests  —   715 Equity:      Share capital of NIS 5 par value each; 500,000,000 ordinary shares authorized; 206,811,875 and 215,777,000 shares outstanding as of December 31, 2025 and December 31, 2024, respectively, and 279,306,522 and 273,847,185 shares issued as of December 31, 2025 and December 31, 2024, respectively.  417,084   409,145 Additional paid-in capital  1,297,323   1,297,348 Treasury stock  (192,507)  (167,651)Accumulated other comprehensive income (loss)  1,048   (1,137)Accumulated loss  (970,960)  (677,665)Total equity attributable to common shareholders  551,988   860,040 Total equity  551,988   860,755 Total liabilities and equity $638,224  $902,540           NANO DIMENSION LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data) (audited)
      For the Year Ended December 31,   2025(1)  2024  2023 Revenue:         Product $80,385  $45,557  $47,231 Service  22,052   12,218   9,083 Total revenue  102,437   57,775   56,314 Cost of revenue:         Product  57,923   26,308   23,358 Service  10,169   6,578   6,898 Total cost of revenue  68,092   32,886   30,256 Gross profit  34,345   24,889   26,058 Operating expenses:         Research and development  30,054   39,558   65,146 Sales and marketing  35,713   27,657   34,258 General and administrative  59,766   45,987   55,973 Restructuring  7,581   —   — Desktop Metal litigation  31,046   —   — Impairment losses  10,516   1,283   — Operating loss  (140,331)  (89,596)  (129,319)(Loss) gain on investment in marketable equity securities  (2,036)  (52,256)  23,462 Other (expense) income, net  (479)  486   1,627 Finance income  35,400   42,573   47,584 Finance expense  (111)  (668)  (367)Loss before income taxes  (107,557)  (99,461)  (57,013)Income tax benefit (expense)  7,202   (397)  (62)Net loss from continuing operations  (100,355)  (99,858)  (57,075)Net loss from discontinued operations, net of income tax of nil  (193,263)  —   — Net loss  (293,618)  (99,858)  (57,075)Less: Net loss attributable to non-controlling interests  (323)  (1,029)  (1,110)Net loss attributable to common shareholders $(293,295) $(98,829) $(55,965)          Net loss attributable to common shareholders:         Continuing operations - basic and diluted $(0.46) $(0.45) $(0.23)Discontinued operations - basic and diluted $(0.90) $—  $—           Weighted average common shares outstanding, basic and diluted  215,742   218,311   248,019 Net loss $(293,618) $(99,858) $(57,075)Other comprehensive income (loss):         Foreign currency translation adjustment  1,791   (1,944)  2,368 Remeasurement of pension and post-employment benefit plans, net of tax  312   (2,769)  (1,920)Comprehensive loss  (291,515)  (104,571)  (56,627)Less: Comprehensive loss attributable to non-controlling interests  (323)  (1,088)  (1,088)Comprehensive loss attributable to common shareholders $(291,192) $(103,483) $(55,539) (1) The results for the year ended December 31, 2025 include the consolidation of Markforged revenue of $54.3 million, gross profit of $13.3 million, and GAAP net loss of $30.0 million.

NANO DIMENSION LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands) (audited)
      For the Year Ended December 31,   2025  2024  2023 Cash flow from operating activities         Net loss from continuing operations $(100,355) $(99,858) $(57,075)Adjustments:         Depreciation, amortization and non-cash lease interest  20,455   2,642   1,972 Impairment losses  10,516   1,350   326 Changes in fair value of equity securities  2,037   52,256   (23,462)Loss from deconsolidation of subsidiaries  1,666   —   — Share-based compensation expense  4,930   15,721   22,110 Changes in assets and liabilities:         Decrease (increase) in inventory  5,596   387   (340)(Increase) decrease in other current assets  (175)  6,078   (5,775)(Increase) decrease in trade receivables  (1,535)  2,950   (5,603)Increase in deferred tax assets  (7,456)  —   (11)(Decrease) increase in other payables  (9,993)  (1,150)  4,856 (Decrease) increase in employee benefits  (1,393)  (562)  (1,478)Increase in trade payables  6,866   47   1,089 Other  (1,426)  1,218   (5,266)Net cash used in operating activities  (70,267)  (18,921)  (68,657)Cash flow relating to investing activities         Change in bank deposits  270,755   100,530   (189,060)Purchase of property plant and equipment  (1,064)  (2,196)  (9,098)Acquisition of intangible asset  —   (711)  (1,524)Acquisition of subsidiaries, net of cash acquired  (267,816)  —   — Deconsolidation of subsidiaries  (476)  —   — Other  —   —   835 Net cash from (used in) investing activities  1,399   97,623   (198,847)Cash flow relating to financing activities         Repayment long-term bank debt  (149)  (180)  (536)Proceeds from non-controlling interests  —   555   1,089 Payment of a liability for contingent consideration in a business combination  —   —   (9,255)Payments of share price protection recognized in business combination  —   (363)  (4,459)Repurchase of treasury shares  (24,856)  (69,755)  (96,387)Net cash used in financing activities  (25,005)  (69,743)  (109,548)Cash flow relating to discontinued operations         Net cash used in operating activities  (31,017)  —   — Net cash used in investing activities  (437)  —   — Net cash provided by financing activities  10,009   —   — Net cash used in discontinued operations  (21,445)  —   — (Decrease) increase in cash, cash equivalents and restricted cash  (115,318)  8,959   (377,052)Effect of exchange rate fluctuations on cash  3,249   (997)  1,292 Cash, cash equivalents and restricted cash at beginning of the year  318,474   310,512   686,272 Cash, cash equivalents and restricted cash at end of the year $206,405  $318,474  $310,512           Supplemental disclosures of cash flow information         Cash and cash equivalents $204,672   317,169   309,571 Restricted cash in restricted deposits, current  123   537   60 Restricted cash in restricted deposits, non-current  1,610   768   881 Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows $206,405  $318,474  $310,512           Non-cash operating activity         Intangible asset acquired on credit  —   —   711 Property plant and equipment acquired on credit  17   69   214 Lease liabilities arising from obtaining right-of-use assets  1,167   1,275   929 Non-cash investing activity         Acquisition replacement awards for pre-combination service  2,055   —   — Supplemental disclosure of cash flow information         Income taxes paid during the year  115   314   136               NANO DIMENSION LTD.RECONCILIATION OF US GAAP TO NON-GAAP MEASURES(In thousands)              ​Three Months Ended
December 31, ​Year Ended
December 31,  ​2025  2024 ​2025  2024 GAAP Net loss from continuing operations​$(33,942) $(9,333)​$(100,355) $(99,858)Tax expense (benefit)​ (7,325)  319 ​ (7,202)  397 Depreciation and amortization  2,407   772   7,433   2,642 Interest expense  543   —   971   — Interest income  (4,503)  (10,092)  (24,636)  (42,573)Non-GAAP EBITDA (loss)  (42,820)  (18,334)  (123,789)  (139,392)Finance expenses (income) from revaluation of assets and liabilities  24,431   (5,583)  2,056   52,344 Exchange rate differences  (2,264)  (2,150)  (10,764)  485 Share-based payments expense  1,912   3,213   4,930   15,721 Desktop Metal litigation related expenses  138   —   31,046   — Desktop Metal and Markforged transaction related expenses  106   3,010   10,614   6,452 Restructuring costs  532   —   7,581   — Impairment losses  2,110   1,283   10,516   1,283 Acquisition inventory step-up amortization  3,209   —   10,661   — Litigation settlements and contingencies  3,521   —   4,621   — Other non-GAAP  (711)  (371)  (711)  (486)Non-GAAP Adjusted EBITDA from continuing operations​$(9,836) $(18,932)​$(53,239) $(63,593)                      ​Three Months Ended
December 31, ​Year Ended
December 31, Non-GAAP Cost of Revenue​2025  2024 ​2025  2024 GAAP Cost of revenue​$21,998  $9,775 ​$68,092  $32,886 Share-based payments expense​ 172   228 ​ 669   938 Depreciation and amortization  856   266 ​ 2,400   374 Acquisition inventory step-up amortization  3,209   —   10,661   — Non-GAAP Cost of revenue $17,761  $9,281  $54,362  $31,574               ​Three Months Ended
December 31, ​Year Ended
December 31, Non-GAAP Gross Profit​2025  2024 ​2025  2024 GAAP Gross profit​$13,317  $4,794 ​$34,345  $24,889 Share-based payments expense​ 172   228 ​ 669   938 Depreciation and amortization  856   266 ​ 2,400   374 Acquisition inventory step-up amortization  3,209   —   10,661   — Non-GAAP Gross profit $17,554  $5,288  $48,075  $26,201               ​Three Months Ended
December 31, ​Year Ended
December 31, Non-GAAP Research and Development Expenses​2025  2024 ​2025  2024 GAAP Research and development expenses​$7,466  $9,449 ​$30,054  $39,558 Share-based payments expense​ 454   1,215 ​ 1,708   6,079 Depreciation and amortization  424   493 ​ 1,432   1,355 Non-GAAP Research and development expenses $6,588  $7,741  $26,914  $32,124               ​Three Months Ended
December 31, ​Year Ended
December 31, Non-GAAP Sales and Marketing Expenses​2025  2024 ​2025  2024 GAAP Sales and marketing expenses​$10,065  $6,504 ​$35,713  $27,657 Share-based payments expense​ 208   274 ​ 896   1,649 Depreciation and amortization  769   143 ​ 2,221   518 Non-GAAP Sales and marketing expenses $9,088  $6,087  $32,596  $25,490                            ​Three Months Ended
December 31, ​Year Ended
December 31, Non-GAAP General and Administrative Expenses​2025  2024 ​2025  2024 GAAP General and administrative expenses​$16,681  $14,743 ​$59,766  $45,987 Share-based payments expense​ 1,078   1,496 ​ 1,657   7,055 Depreciation and amortization  358   (130)​ 1,380   395 Desktop Metal and Markforged transaction related expenses  106   3,010   10,614   6,452 Other non-GAAP  —   —   —   (115)Litigation settlements and contingencies  3,521   —   4,621   — Non-GAAP General and administrative expenses $11,618  $10,367  $41,494  $32,200               ​Three Months Ended
December 31, ​Year Ended
December 31, Non-GAAP Operating Loss​2025  2024 ​2025  2024 GAAP Operating loss​$(23,675) $(27,185)​$(140,331) $(89,596)Share-based payments expense​ 1,912   3,213 ​ 4,930   15,721 Depreciation and amortization  2,407   772 ​ 7,433   2,642 Desktop Metal litigation related expenses  138   —   31,046   — Desktop Metal and Markforged transaction related expenses  106   3,010   10,614   6,452 Restructuring costs  532   —   7,581   — Impairment losses  2,110   1,283   10,516   1,283 Acquisition inventory step-up amortization  3,209   —   10,661   — Litigation settlements and contingencies  3,521   —   4,621   — Other non-GAAP  —   —   —   (115)Non-GAAP Operating loss $(9,740) $(18,907) $(52,929) $(63,613)                 

Nano Dimension is rated a buy with a $2.03 price target, offering ~22% upside as integration of Markforged drives scale. FY 2025 revenue surged 142% YoY to $35.3M, mainly from Markforged; organic growth remains flat, and profitability is still negative. NNDM expects FY 2026 revenue of $130–$140M and aEBITDA loss narrowing to $40–$50M, indicating progress toward breakeven.

Posted by Defense World Staff on Apr 22nd, 2026

Shares of Nano Dimension Ltd. (NASDAQ:NNDM – Get Free Report) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.80 and traded as high as $1.85. Nano Dimension shares last traded at $1.79, with a volume of 1,533,030 shares changing hands.

Analysts Set New Price Targets A number of equities research analysts have recently issued reports on NNDM shares. Weiss Ratings restated a “sell (d)” rating on shares of Nano Dimension in a research report on Thursday, January 22nd. Wall Street Zen lowered Nano Dimension from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nano Dimension currently has an average rating of “Sell”.

View Our Latest Analysis on NNDM

Nano Dimension Stock Down 2.7% The business has a 50-day moving average price of $1.80 and a 200-day moving average price of $1.76. The firm has a market capitalization of $372.30 million, a PE ratio of -1.47 and a beta of 0.98.

Nano Dimension (NASDAQ:NNDM – Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported ($1.06) EPS for the quarter. Nano Dimension had a negative net margin of 286.32% and a negative return on equity of 12.48%. The business had revenue of $35.32 million during the quarter.

Institutional Inflows and Outflows A number of large investors have recently added to or reduced their stakes in NNDM. Wells Fargo & Company MN lifted its holdings in Nano Dimension by 266.1% in the fourth quarter. Wells Fargo & Company MN now owns 19,113 shares of the technology company’s stock valued at $29,000 after acquiring an additional 13,893 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Nano Dimension by 392.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 19,459 shares of the technology company’s stock valued at $30,000 after acquiring an additional 15,506 shares during the last quarter. Merit Financial Group LLC acquired a new position in Nano Dimension in the fourth quarter valued at approximately $34,000. QRG Capital Management Inc. lifted its holdings in Nano Dimension by 83.1% in the third quarter. QRG Capital Management Inc. now owns 23,544 shares of the technology company’s stock valued at $37,000 after acquiring an additional 10,683 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Nano Dimension in the fourth quarter valued at approximately $42,000. 33.89% of the stock is currently owned by institutional investors and hedge funds.

Nano Dimension Company Profile (Get Free Report)

Nano Dimension Ltd. (NASDAQ: NNDM) is a provider of advanced additive manufacturing solutions tailored for the electronics industry. Founded in 2012 and headquartered in Ness Ziona, Israel, the company develops integrated hardware, software and material platforms designed to accelerate the design and production of printed circuit boards (PCBs) and conformal electronic devices. Its flagship DragonFly printers use patented inkjet-based 3D printing technology to produce multi-layer PCB prototypes in a single build process, reducing lead times and enabling rapid design iterations.

In addition to its 3D printing systems, Nano Dimension offers a suite of proprietary conductive and dielectric inks, as well as workflow software that connects designers, engineers and manufacturers.

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Recent Strategic Actions Expected to Reduce Annualized Cash Burn by Approximately $10 million

Company Executing Three Phase Plan to Maximize Shareholder Value in 2026 and Beyond

Full Year 2026 Guidance Suspended as Strategic Alternatives Process Accelerates

WALTHAM, Mass., May 07, 2026 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension”, “Nano”, or the “Company”), a leader in digital manufacturing solutions, today announced financial results for the first quarter ended March 31, 2026.

First Quarter 2026 Results:

Revenue: $29.7 million, a 106% increase from $14.4 million year-over-yearGross Margin (“GM”): 40.8%, up from 40.6% year-over-yearAdjusted Gross Margin (“Adjusted GM”): 45.9%, up from 43.3% year-over-yearAdjusted EBITDA loss: $12.5 million, up from a loss of $10.1 million year-over-yearNet Loss: $69.7 million, inclusive of $40.4 million of impairment, up from a loss of $25.5 million year-over-yearTotal cash, cash equivalents, deposits, restricted deposits and marketable equity securities: $441.6 million as of March 31, 2026, down from $459.6 million as of December 31, 2025. Adjusted EBITDA and Adjusted Gross Margin are non-GAAP financial measures. More information, including a reconciliation of Adjusted EBITDA and Adjusted Gross Margin to the most directly comparable GAAP financial measure can be found below in this press release under “Non-GAAP Financial Measures” and “Reconciliation of US GAAP to Non-GAAP Measures.”

Recent Developments:

Three Phase Strategic Plan Execution: The Company is executing a defined three phase plan to maximize shareholder value in 2026 and beyond, with each phase already underway. Phase One is focused on streamlining operations and reducing cash burn through efficiency initiatives and disciplined cost management. Phase Two is centered on monetization of product lines to simplify the business and strengthen the balance sheet, including the announced sale of its additively manufactured electronics (“AME”) and Fabrica product lines. Phase Three is focused on evaluating strategic alternatives to maximize long term shareholder value and selecting the most compelling path forward, which remains under review.

David Stehlin, Chief Executive Officer, commented, “The three phases of our strategic plan continue to advance in parallel as we accelerate toward increasing shareholder value. We are streamlining operations, monetizing our product lines, and progressing toward potentially selecting a compelling opportunity in the coming months. We have completed the sale of our AME and Fabrica product lines and expect to announce additional product line monetization in the coming weeks. Together, these actions are expected to reduce complexity, lower annualized cash burn, and further strengthen our financial flexibility. Phase 3 is advancing quickly. After receiving numerous inbound opportunities, we have significantly narrowed our focus and are now reviewing a short list of highly attractive strategic alternatives, which we believe have the potential to deliver significant long term value creation in 2026 and beyond.”

Sale of AME and Fabrica Product Lines: On April 6, 2026, Nano Dimension announced the sale of its AME product line and its previously discontinued Fabrica product lines to Inspira Technologies OXY B.H.N. Ltd. for total consideration of up to $12.5 million, including a $2.0 million upfront cash payment and up to $10.5 million in performance-based deferred payments over the next twelve months. This transaction supports the Company’s efforts to streamline operations and lower its cost structure. The Company expects this transaction to reduce annualized cash burn by approximately $10 million.

2026 Financial Guidance Update

Given the Company’s ongoing actions under its defined strategic plan and the potential for additional changes across the business, the Company has suspended its full year 2026 financial guidance at this time.

This decision reflects the range of outcomes currently being implemented and evaluated, including the timing and scope of potential monetization actions that could materially impact future results.

Conference Call Today

Nano Dimension will host a conference call today at 4:30 p.m. ET to discuss its financial results for the first quarter ended March 31, 2026.

Participants can pre-register for the conference call in order to receive dial in information via this link: https://dpregister.com/sreg/10208731/103e987e1a7

Participants can also dial-in/connect by following the below:

Listen in via U.S. dial-in: 1-844-695-5517
Listen via international dial-in: 1-412-902-6751
Listen via Israel toll free: 1-80-9212373
Listen via webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=ZaodVpNh

For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at https://investors.nano-di.com/events-and-presentations.

About Nano Dimension Ltd.

Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension Ltd. (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices. For more information, please visit https://www.nano-di.com/.

Non-GAAP Financial Measures

EBITDA is a non-GAAP measure and is defined as earnings before interest income and expense, income tax (benefit) expense, depreciation and amortization. We believe that EBITDA should be useful in evaluating the performance of our business and operations. EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting interest expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively) and EBITDA is useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to the items mentioned above.

Adjusted EBITDA and operating expenses are non-GAAP measures and are defined as earnings before interest income and expense, income tax (benefit) expense, depreciation and amortization, share-based compensation expense, exchange rate differences, finance expenses (income) for revaluation of assets and liabilities, Desktop Metal litigation related expenses, Desktop Metal and Markforged transaction related expenses, restructuring costs, impact of deconsolidation, impairment losses, litigation settlements and step-up amortization from purchase accounting. We believe that Adjusted EBITDA and operating expenses, as described above, should also be useful in evaluating the performance of our business. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting other financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payments, restructuring costs, impairment losses, and step-up amortization from purchase accounting. Adjusted EBITDA and operating expenses are useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to non-cash items, such as expenses related to share-based payments.

Adjusted gross profit, excluding depreciation and amortization, share-based compensation expenses, and step-up amortization from purchase accounting, is a non-GAAP measure. We believe that adjusted gross profit, as described above, should also be useful in evaluating the performance of our business. Adjusted gross profit facilitates gross profit and gross margin comparisons from period to period and company to company by backing out potential differences caused by variations in amortization of inventory and intangible assets. Adjusted gross profit is useful to an investor in evaluating our performance because it enables investors, securities analysts and other interested parties to measure a company’s performance without regard to non-cash items, such as amortization expenses. Adjusted gross margin is calculated by dividing the adjusted gross profit by the revenues.

EBITDA and Adjusted EBITDA, Adjusted gross profit and non-GAAP operating expenses can be useful in evaluating our performance by eliminating the effect of financing and non-cash expenses such as share-based payments, however, we may incur such expenses in the future, which could impact future results. In addition, other companies, including companies in our industry, may calculate non-GAAP metrics differently or not at all, which may reduce the usefulness of this measure as a tool for comparison.

Nano Dimension does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures due to the inherent difficulty in forecasting and quantifying certain significant items. These items are uncertain, depend on various factors and could have a material impact on GAAP reported results for the relevant period.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding Nano’s future growth, strategic plan and value to shareholders; the Company’s expectation that the phases of the strategic plan will increase shareholder value, streamline operations, monetize product lines and progress toward potentially selecting a compelling opportunity; the Company’s expectations that it will announce additional product line monetization in the coming weeks; the Company’s expectations in the success of future strategic alternatives in reducing complexity, lowering annualized cash burn, strengthening the Company’s financial flexibility and delivering significant long term value creation in 2026 and beyond; and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Forward-looking statements may be characterized by terminology such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2026, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this communication.

Contacts:

Investors: Purva Sanariya
Director, Investor Relations
[email protected]

Media: Samuel Manning
Principal Manager, External Communications
[email protected]

NANO DIMENSION LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data) (Unaudited)

  March 31,  December 31,   2026  2025 Assets      Current assets:      Cash and cash equivalents $355,278  $204,672 Bank deposits  8,781   168,997 Marketable equity securities  75,719   84,154 Restricted bank deposits  594   123 Trade receivables, net of allowance for doubtful accounts ($939 and $861, respectively)  22,700   26,047 Inventory  31,703   32,878 Other current assets  10,622   8,938 Total current assets  505,397   525,809 Restricted bank deposits  1,254   1,610 Property, plant and equipment, net  23,621   24,840 Operating lease right-of-use assets  22,487   23,789 Deferred tax assets  424   424 Goodwill  —   40,388 Intangible assets, net  18,313   19,434 Other assets  1,711   1,930 Total assets $573,207  $638,224 Liabilities and Equity      Current liabilities:      Trade payables $12,974  $11,999 Accrued liabilities  21,083   19,514 Deferred revenue  13,250   11,873 Current portion of lease liability  8,604   8,923 Current portion of bank loan  156   158 Total current liabilities  56,067   52,467 Employee benefits  3,666   3,697 Operating lease right-of-use liabilities  21,563   23,323 Bank loan  117   158 Long-term settlement payable  3,124   2,974 Long-term deferred revenue  3,226   3,617 Total liabilities  87,763   86,236 Commitments and contingencies      Equity:      Share capital of NIS 5 par value each; 500,000,000 ordinary shares authorized; 207,986,287 and 206,811,875 shares outstanding as of March 31, 2026 and December 31, 2025, respectively, and 280,480,934 and 279,306,522 shares issued as of March 31, 2026 and December 31, 2025, respectively.  418,969   417,084 Additional paid-in capital  1,298,363   1,297,323 Treasury stock  (192,507)  (192,507)Accumulated other comprehensive income  1,241   1,048 Accumulated loss  (1,040,622)  (970,960)Total equity  485,444   551,988 Total liabilities and equity $573,207  $638,224  NANO DIMENSION LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data) (Unaudited)  Three months ended March 31,   2026(1)  2025 Revenue:      Product $22,931  $11,679 Service  6,794   2,722 Total revenue  29,725   14,401 Cost of revenue:      Product  14,222   7,081 Service  3,376   1,479 Total cost of revenue  17,598   8,560 Gross profit  12,127   5,841 Operating expenses:      Research and development  8,204   5,944 Sales and marketing  9,692   5,644 General and administrative  15,209   5,667 Restructuring  3,127   1,180 Desktop Metal litigation  —   28,069 Impairment losses  40,388   1,229 Operating loss  (64,493)  (41,892)(Loss) gain on investment in marketable equity securities  (8,435)  8,726 Finance income  3,512   9,320 Finance expense  (246)  (1,679)Loss before income taxes  (69,662)  (25,525)Income tax expense  —   (23)Net loss  (69,662)  (25,548)Less: Net loss attributable to non-controlling interests  —   (236)Net loss attributable to common shareholders $(69,662) $(25,312)       Net loss attributable to common shareholders:      Basic and diluted $(0.34) $(0.12)       Weighted average common shares outstanding, basic and diluted  207,504   216,462 Net loss $(69,662) $(25,548)Other comprehensive income:      Foreign currency translation adjustment  193   593 Comprehensive loss  (69,469)  (24,955)Less: Comprehensive loss attributable to non-controlling interests  —   (224)Comprehensive loss attributable to common shareholders $(69,469) $(24,731)
(1) The results for the three months ended March 31, 2026 include the consolidation of Markforged revenue of $17.1 million, gross profit of $6.0 million, and GAAP net loss of $50.1 million. NANO DIMENSION LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands) (Unaudited)  For the Three Months Ended March 31,   2026  2025 Cash flow from operating activities      Net loss $(69,662) $(25,548)Adjustments:      Depreciation, amortization and non-cash lease interest  3,701   574 Impairment losses  40,388   1,229 Changes in fair value of equity securities  8,435   (8,726)Share-based compensation expense  2,925   (786)Changes in assets and liabilities:      (Increase) decrease in inventory  425   340 (Increase) in other current assets  (1,500)  (371)Decrease (increase) in trade receivables  3,258   (2,881)Increase (decrease)in other payables  1,609   (4,026)(Decrease) increase in employee benefits  (20)  38 Increase in trade payables  1,019   26,362 Other  2,343   6,316 Net cash used in operating activities  (7,079)  (7,479)Cash flow relating to investing activities      Change in bank deposits  157,651   177,395 Purchase of property plant and equipment  (167)  (295)Net cash from investing activities  157,484   177,100 Cash flow relating to financing activities      Repayment long-term bank debt  (41)  (35)Net cash used in financing activities  (41)  (35)Increase in cash, cash equivalents and restricted cash  150,364   169,586 Effect of exchange rate fluctuations on cash  357   204 Cash, cash equivalents and restricted cash at beginning of the period  206,405   318,474 Cash, cash equivalents and restricted cash at end of the period $357,126  $488,264        Supplemental disclosures of cash flow information      Cash and cash equivalents $355,278   487,438 Restricted cash in restricted deposits, current  594   60 Restricted cash in restricted deposits, non-current  1,254   766 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $357,126  $488,264        Non-cash operating and investing activity      Lease liabilities arising from obtaining right-of-use assets  —   119 Supplemental disclosure of cash flow information      Income taxes paid during the year  —   60  NANO DIMENSION LTD.
RECONCILIATION OF US GAAP TO NON-GAAP MEASURES
(In thousands) (Unaudited)

 ​Three Months Ended
March 31,  ​2026  2025 GAAP Net loss​$(69,662) $(25,548)Tax expense​ —   23 Depreciation and amortization  2,432   574 Interest expense  221   — Interest income  (3,652)  (9,309)Non-GAAP EBITDA (loss)  (70,661)  (34,260)Finance expenses (income) from revaluation of assets and liabilities  8,434   (8,726)Exchange rate differences  140   1,639 Share-based payments expense  2,925   (786)Desktop Metal litigation related expenses  —   28,069 Desktop Metal and Markforged transaction related expenses  556   1,515 Restructuring costs  3,127   1,180 Impairment losses  40,388   1,229 Acquisition inventory step-up amortization  616   — Litigation, settlements, and contingencies  1,951   — Non-GAAP Adjusted EBITDA​$(12,524) $(10,140)              ​Three Months Ended
March 31, Non-GAAP Cost of Revenue​2026  2025 GAAP Cost of revenue​$17,598  $8,560 Share-based payments expense​ 158   246 Depreciation and amortization  739   142 Acquisition inventory step-up amortization  616   — Non-GAAP Cost of revenue $16,085  $8,172             ​Three Months Ended
March 31, Non-GAAP Gross Profit​2026  2025 GAAP Gross profit​$12,127  $5,841 Share-based payments expense​ 158   246 Depreciation and amortization  739   142 Acquisition inventory step-up amortization  616   — Non-GAAP Gross profit $13,640  $6,229             ​Three Months Ended
March 31, Non-GAAP Research and Development Expenses​2026  2025 GAAP Research and development expenses​$8,204  $5,944 Share-based payments expense​ 478   69 Depreciation and amortization  404   209 Non-GAAP Research and development expenses $7,322  $5,666                ​Three Months Ended
March 31, Non-GAAP Sales and Marketing Expenses​2026  2025 GAAP Sales and marketing expenses​$9,692  $5,644 Share-based payments expense​ 200   323 Depreciation and amortization  904   43 Non-GAAP Sales and marketing expenses $8,588  $5,278                ​Three Months Ended
March 31, Non-GAAP General and Administrative Expenses​2026  2025 GAAP General and administrative expenses​$15,209  $5,667 Share-based payments expense​ 2,089   (1,424)Depreciation and amortization  386   180 Desktop Metal and Markforged transaction related expenses  556   1,515 Litigation, settlements, and contingencies  1,951   — Non-GAAP General and administrative expenses $10,227  $5,396                ​Three Months Ended
March 31, Non-GAAP Operating Loss​2026  2025 GAAP Operating loss​$(64,493) $(41,892)Share-based payments expense​ 2,925   (786)Depreciation and amortization  2,433   574 Desktop Metal litigation related expenses  —   28,069 Desktop Metal and Markforged transaction related expenses  556   1,515 Restructuring costs  3,127   1,180 Impairment losses  40,388   1,229 Acquisition inventory step-up amortization  616   — Litigation, settlements, and contingencies  1,951   — Non-GAAP Operating loss $(12,497) $(10,111)

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MSA Safety Incorporporated (NYSE:MSA) CFO Acquires $71,093.12 in StockMarketBeat

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) CFO Julie Beck bought 448 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $158.69 per share, with a total value of $71,093.12. Following the completion of the purchase, the chief financial officer owned 3,825 shares of the company's stock, valued at $606,989.25. This represents a 13.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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-

It Is Time to Talk About Nano Dimension

TORONTO--(BUSINESS WIRE)--Murchinson Ltd. (collectively with its affiliates and funds it advises and/or sub-advises, “Murchinson” or “we”), a significant shareholder with approximately 7.4% of the outstanding shares of Nano Dimension Ltd. (NASDAQ: NNDM) (“Nano” or the “Company”), today announced it will host an investor conference call to discuss the Company’s so-called strategic review, Chairman Bob Pons’ role in the “review process,” and other concerns related to the Company’s business and corporate governance.

After eight months of limited progress and minimal communication from Nano regarding its strategic review, Murchinson believes shareholders deserve a constructive forum to exchange information and perspectives. We are therefore inviting fellow shareholders to join us for a virtual meeting to discuss the review process, the state of the Company and its path forward.

Additionally, Nano’s May 26 press release – which is riddled with numerous mischaracterizations and false statements – has further reinforced our belief that the Board of Directors is tone-deaf, defensive and intent on pursuing a course of action that does not serve shareholders’ best interests.

We urge fellow shareholders to recognize Nano’s defensive maneuvers for what they are and to join the investor call, which will take place on Wednesday, June 3, 2026, at 12:00 PM EDT. Please reach out to us at [email protected] for information on how to join.

About Murchinson

Founded in 2012 and based in Toronto, Canada, Murchinson is an alternative asset management firm that serves institutional investors, family offices and qualified clients. The firm has extensive experience capturing the best returning opportunities across global markets. Murchinson’s multi-strategy approach allows it to execute investments at all points in the market cycle with fluid allocation between strategies. Our team targets corporate action, distressed investing, private equity and structured finance situations, leveraging its broad market experience with a variety of specialized products and sophisticated hedging techniques to deliver alpha within a risk-averse mandate. Learn more at www.murchinsonltd.com.

More News From Murchinson Ltd.

Back to Newsroom

TORONTO--(BUSINESS WIRE)--Murchinson Ltd. (collectively with its affiliates and funds it advises and/or sub-advises, “Murchinson” or “we”), a significant shareholder with approximately 7.4% of the outstanding shares of Nano Dimension Ltd. (NASDAQ: NNDM) (“Nano” or the “Company”), today issued the following letter to Nano shareholders.

***

Fellow Nano Shareholders,

Over the last few weeks and months, we have heard CEO Dave Stehlin repeatedly say that Nano’s Board of Directors (the “Board”), led by Chairman Robert (“Bob”) Pons, is evaluating “exciting opportunities” and “very interesting candidates” as potential uses of Nano’s “balance sheet, public company platform, and strategic flexibility.”1

We believe that any Board decision to approve an ill-advised transaction would be self-serving and aimed at preserving the directors’ seats rather than serving the interests of Nano and its shareholders. The parallels to the previous Board, led by Yoav Stern, are striking and should give any shareholder pause. Just as Mr. Stern – the fighter-pilot-turned-Kamikaze – appeared to treat the Company’s resources as his own, it seems to us that Mr. Pons may be operating under the same mistaken assumption.

Shareholders should ask: why is the Board following Mr. Pons in the footsteps of Mr. Stern, who, we believe, intentionally caused Nano to enter into a value-destructive transaction to preserve his position? Why does the Board insist on pursuing a deal that, in our opinion, is very likely to benefit others at the expense of Nano’s shareholders?

We are curious as to which flavor-of-the-week industry the Board may be considering. We invite shareholders to share their views with us at [email protected] as to which of the following trendy sectors they believe is most likely:

Space exploration “AI” software/hardware “Breakthrough” medical technology Autonomous vehicles Cannabis Cryptocurrencies/blockchain Feel free to also share your opinion on what remuneration or payout, if any, you predict Messrs. Pons and Stehlin will receive in return for using Nano's money on this SPAC-like deal – despite very likely lacking even the faintest clue about the industry in which the target will ultimately operate. Will it be a cash golden parachute? Options? Warrants? Perpetually-paying cushy next-jobs or directorships?

Hopefully, we will have survey results before the Board announces an ill-conceived transaction that we believe could strip Nano of its capital in exchange for nothing more than a pipedream, based on the Board’s concerning track record to date.

We look forward to your responses and to continuing this dialogue with our fellow shareholders.

Sincerely,
Murchinson Ltd.

***

About Murchinson
Founded in 2012 and based in Toronto, Canada, Murchinson is an alternative asset management firm that serves institutional investors, family offices and qualified clients. The firm has extensive experience capturing the best returning opportunities across global markets. Murchinson’s multi-strategy approach allows it to execute investments at all points in the market cycle with fluid allocation between strategies. Our team targets corporate action, distressed investing, private equity and structured finance situations, leveraging its broad market experience with a variety of specialized products and sophisticated hedging techniques to deliver alpha within a risk-averse mandate. Learn more at www.murchinsonltd.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable securities laws. In general, forward-looking information refers to disclosure about future conditions, courses of action, and events. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the use of any of the words “anticipates”, “believes”, “expects”, “intends”, “plans”, “will”, “would”, and similar expressions are intended to identify forward-looking statements. These statements are based on current expectations of Murchinson and currently available information. Forward-looking statements are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. Murchinson undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.

Disclaimer
The information contained or referenced herein is for information purposes only in order to provide the views of Murchinson and the matters which Murchinson believes to be of concern to shareholders described herein. The information is not tailored to specific investment objections, the financial situations, suitability, or particular need of any specific person(s) who may receive the information, and should not be taken as advice in considering the merits of any investment decision. The views expressed herein represent the views and opinions of Murchinson, whose opinions may change at any time and which are based on analyses of Murchinson and its advisors. In addition, the information contained herein is being publicly disclosed without prejudice and shall not be construed to prejudice any of Murchinson’s rights, demands, grounds and/or remedies under any contract and/or law, including any pending lawsuits.

1 Nano Dimension Q1 2026 Earnings Call (May 7, 2026); Press Release: Nano Dimension Issues Letter from Chief Executive Officer, David Stehlin (June 5, 2026).

More News From Murchinson Ltd.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) will hold a conference call on Tuesday, May 5th, 2026 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review first quarter 2026 operating results.

The live call can be accessed by dialing +1-833-821-2814 (Canada/US toll free). Alternatively, a live webcast can be accessed through a link on Ballard's homepage (www.ballard.com), in the 'Latest News' section. Following the call, a link to the webcast will be available in the 'Investor Hub' area of the 'Investors' section of Ballard's website (www.ballard.com/investors).

About Ballard Power Systems

Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Further Information
Sumit Kundu –Investor Relations +1.604.453.3517 or [email protected]

SOURCE Ballard Power Systems Inc.

Also from this source

, /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today welcomed Ralph Robinett as Senior Vice President and Chief Operating Officer, replacing Lee Sweetland, effective April 13th, 2026.

Ralph brings more than 25 years of global operations, manufacturing, supply chain, and transformation leadership experience across advanced technology and clean energy businesses. He has led large-scale operational organizations, built and expanded manufacturing facilities in multiple regions, driven cost reduction and productivity improvement initiatives, and helped commercialize innovative technologies at scale.

Most recently, Ralph served as Chief Operating Officer at GAF Energy, where he led manufacturing, supply chain, new product deployment, factory expansions, and automation design for the company's rapidly growing solar roof business. Through his leadership, he helped grow output and revenue, led deployment of an automated solar shingle manufacturing plant, and supported commercialization of GAF Energy's second-generation product.

Ralph has also held senior leadership positions at Celestica, Velodyne LiDAR, and SunPower, where he oversaw international manufacturing, implementation of automation strategy, and supply chain transformation.

"We are pleased to welcome Ralph to Ballard as our new Chief Operating Officer," said Marty Neese, Ballard's President and CEO. "Ralph brings a powerful combination of operational discipline, global manufacturing expertise, and strategic leadership to the position. His track record of scaling complex operations, improving productivity, and building strong teams will be invaluable as we continue to execute on our strategy and position Ballard for long-term growth. I also want to thank Lee Sweetland for his contributions to Ballard and wish him well in the future."

"I am honored to join Ballard as Chief Operating Officer," said Ralph Robinett. "Ballard has a strong foundation, a talented team, and an important role to play in the advancement of clean energy solutions. I look forward to working closely with the team to strengthen operations, support customers, and help drive the company's next phase of growth."

About Ballard Power Systems

Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells enable electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning anticipated impacts of the announced leadership change. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation.

SOURCE Ballard Power Systems Inc.